News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

White House Foresaw Saudi Prince Mohammed's Rise

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It came as no surprise to the White House when Saudi Arabia's King Salman designated his son, Mohammed bin Salman, as next in line to the kingdom's throne.

The Saudi Shake-Up Has One Goal: Drag the Country Into Modern Era

The elevation of Mohammed bin Salman is a bet he can pull off a radical financial and economic transformation.

Oil Falls Deeper Into Bear Territory

Oil prices fell to a 10-month low as investors shook off U.S. data showing that stockpiles continued to shrink and focused on relentlessly rising production.

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U.S. Oil, Gasoline Supplies Decline

U.S. crude-oil inventories decreased by 2.5 million barrels for the week ended June 16, more than expected, according to EIA data. Gasoline supplies also had a larger-than-expected decline.

Analysts See Small Addition to U.S. Natural-Gas Inventories

Analysts expect government data scheduled for release Thursday to show natural-gas stockpiles rose by 57.33 billion cubic feet, 30% less than average for this time of year.

For Energy's High-Yield Investors, Sentiment Sours

The market for energy company bonds has declined this month along with crude oil, a development that could make it more expensive for firms to borrow in the future.

Mississippi Regulators Seek to End Southern Co. 'Clean-Coal' Plant

State officials want Southern Co.'s Kemper facility, which has already taken $7.5 billion and seven years to finish, to run using natural gas going forward, and don't want to pass on additional costs to electricity customers.

Saudi King Salman Ousts Nephew as Crown Prince, Installs Son

King Salman named his son as the country's new crown prince, a move that carries far-reaching implications for the monarchy and the biggest economy in the Middle East.

White House Backs Nuclear Plant Tax-Credit Extension

The White House endorsed a proposal to extend a tax-credit window for a half-finished Georgia nuclear plant caught up in the bankruptcy of Toshiba Corp.'s nuclear construction subsidiary, Westinghouse Electric.

China Titans Affiliate to Buy Aquion Clean-Energy Assets

A company linked to China Titans Energy Technology Group Co. won a bankruptcy auction for the assets of Aquion Energy Inc., a U.S.-based maker of environmentally-friendly saltwater batteries.

(END) Dow Jones Newswires

June 22, 2017 04:16 ET (08:16 GMT)